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Asset Watch
Thursday, August 18, 2023
Tesla’s 50-week moving average is another key level, as it ended the coronavirus-induced decline in 2020 and held as support during the 2021 surge to an all-time high. Likewise, it helped halt the sell-off in March 2022, and after a breakdown followed in May, it became resistance from July through September 2022. So with the 50-week MA at $205.99, another ally is not far behind if the $220 level breaks.
Aggressive traders may want to play for a bounce in advance, while more conservative participants may prefer to wait for a reversal before entering a long position.
Either way, will the technicals overpower the fundamentals in the months ahead?
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